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Saturday, September 4, 2010

Sellers Cut Prices on 50% of Homes

Homeowners are slashing prices more drastically and more frequently, according to recently released data from ZipRealty. The average price reduction is now 7.1 percent of list price.

List prices dipped about $19,000 in August compared with July, across the 26 markets studied. On average, sellers made two price cuts during that time.
Seven cities saw price reductions on more than half of their inventory, with Jacksonville, Phoenix andMinneapolis on top with 55 percent, 54.4 percent and 52.4 percent, respectively.

"Earlier in the year we saw sellers being aggressive with their pricing, but not reducing as much," says Leslie Tyler, vice president of marketing for ZipRealty. "What we are seeing now is that the trends are reversing."More Here..

The millions of student Debt Peons ,will leave the education system burdened with debts in student loans , with only a dream that the good job awaits for those with a diploma in hand .Will the be able to take on more debt ,morgages ,to pay for high priced middle class housing?

Can the student aprentices qualify for complete full Debt Peon status?

This mess was caused by bush's everyone should own a home program which has failed miserably as everything bush has done.

who says bush was a failure?

Bush and greenspan done an exellent job of keeping the Ponzi economy going for years.The US rated all this mortgage debt AAA and it was bundled up and flogged of by the banksters to sell to the rest of the word. trillions of dollars flowed into the US.This sale of bonds was more important to the banksters than any mundane matters such as the ability to actualy pay off the mortgage.After making huge profits property ,when things went bad ,they passed on most of thev dud bonds over to the taxpayer in return for cash. Bush was absolutely brilliant in servibg the financfe sector and big business.The heart of america.how else could a profit in america be got ,after the congress and the earlier 2 party presidents had already exported industry in a bi-partizan manner . Patriots all!obama is just a manager for the continuing bailout coup that the brilliant bush put in place.